Basindowah discusses with German officials the latest events in Yemen
October 10, 2022, 2:20 pm

Basindowah discusses with German officials the latest events in Yemen

Dr. Wesam Basindowah, head of the Yemeni Coalition for Independent Women, held talks with a number of officials in the German Foreign Ministry and specialists in the Middle East and the Arab Gulf, in addition to German parliamentarians and civil society organizations.

This is part of a series of meetings that took place during a working visit carried out by Dr. Wesam to the German capital, Berlin, during the first week of October.

During the visit, many German figures were contacted, and they touched upon the situation in Yemen, the Houthi cross-border terrorism and the militias’ threat to international peace and security, and the Houthi militia’s use of sea mines to threaten global trade routes to create a global energy crisis to serve Iranian goals, taking advantage of the scarcity of European countries. In the field of importing liquefied gas.

The human rights issues was strongly present in the meetings and discussion with German personalities, where Dr. Wesam talked on the war crimes committed by the Houthi militias against civilians in Yemen throughout the years of war, as the Houthi militias target civilians in the cities and countryside and deliberately commit crimes against the defenseless and violate human rights, Houthis militias indifference to international laws and all Houthis crimes against civilians in Yemen amount to war crimes.

For other part, German officials expressed their regret at Houthi's group refusal to extend the UN truce, which is a starting point for achieving peace in Yemen.

German officials emphasized the international community's focus at this stage on stopping hostilities, extending the armistice, and unifying the transfer of revenues to the Central Bank of Yemen.

German officials considered these arrangements one of the most important matters for advancing the peace process in Yemen to alleviate the suffering of the people.

The officials stressed the need to achieve peace in Yemen, which requires work on it for many years to bridge the effects of the war.
As for the threats launched by the Houthi militia to target energy sources in the Gulf, German officials considered these threats unacceptable, and they focus on the continuation of the truce in Yemen to go to peace consultations in preparation for building lasting peace in Yemen.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.